SYDNEY (AFP) - A furious Football Federation Australia (FFA) on Wednesday stripped the tycoon owner of the Newcastle Jets of his licence to run the A-League club after he put it into voluntary administration.

The move came barely 30 minutes after coal baron Nathan Tinkler said the team was insolvent and that Scottish side Dundee United was ready to buy it.

The sport's governing body had given Tinkler and his company, Hunter Sports Group, until 4pm on Wednesday to pay outstanding wages to Jets staff and players, but he instead put the club into administration with debts of A$2.7 million (S$2.85 million).

FFA chief David Gallop said a new licence would be issued and be owned and controlled by the FFA, meaning a club from Newcastle, about 160 kilometres north of Sydney, will remain in the A-League.